Chart of the Day: Is the Bar Raised Too High for Apple?
Without much on the new product calendar can the company re-start their growth engine?
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Tonight we get the earnings announcement from Apple AAPL for the most recently finished quarter. Some are fearing the worst with this quarter but Apple always seems to manage a win when their back is in the corner. The jury is still out on their AI strategy going forward along with capex spending, something that really could be a gamechanger for the company if they can figure it out.
New phones are always something the consumer is looking forward to and the "refresh market" (replacing phones) has never been stronger. Services will be watched carefully to see if growth continues.
The Apple chart has been improving slowly. The candles show blue or teal, which is bullish on the GoNoGo composite of indicators. Moving average convergence/divergence (MACD) seems to have rolled over, though, to a bearish signal, and money flow just went below zero.
In fact, a few other indicators are telling us to be cautious, so it is important to see how investors respond to the latest numbers — not just Thursday night and Friday, but over the next few weeks.
We like Apple in TheStreet Pro Portfolio and rate it a Two, or "stockpile on pullbacks."
At the time of publication, TheStreet Pro Portfolio was long AAPL.
